Understanding VAT Returns

VAT (Value Added Tax) is a tax applied to most goods and services provided by VAT-registered businesses in the UK. Businesses with a taxable turnover exceeding the current threshold of £85,000 must register for VAT and submit VAT Returns to HMRC.

Our VAT Return Services

At Maak Accountancy, we provide comprehensive VAT Return services to ensure your business stays compliant with HMRC requirements. Our services include:

  • VAT Registration Assistance
  • Preparing and Filing VAT Returns
  • Advising on VAT Schemes (e.g., Flat Rate Scheme, Cash Accounting Scheme)
  • Reviewing VAT Transactions for Accuracy
  • Guidance on Making Tax Digital (MTD) for VAT

How to Submit VAT Returns

VAT Returns are typically submitted every quarter. The process involves:

  1. Calculating your total sales and purchases.
  2. Working out the amount of VAT you owe or are owed.
  3. Submitting your return and making payment to HMRC.

You can submit your VAT Returns online through the HMRC VAT Returns Portal or by using MTD-compatible software.

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Contact Us

Let Maak Accountancy handle your VAT Returns while you focus on growing your business. Contact us today to discuss your VAT needs.